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CAPTRUST Buys $19B Advisor, Also Called CapTrust

August 23, 2017

Independent wealth management firm CAPTRUST has acquired the RIA firm CapTrust Advisors, bringing on $19 billion in assets, according to a press release from CAPTRUST -- that is, the acquirer.

CAPTRUST spokeswoman Olivia Gagnon steps up to dispel some confusion around the names of the firms in this deal.

"CAPTRUST and CapTrust Advisors have operated as two competing firms for 20 years. They only share the same name due to a common holding company back in 1997," Gagnon says in a email to FA-IQ. "They did not share a platform. The only connection was they both had the rights to use the Captrust name."

But the buyer writes its name in all caps -- "CAPTRUST" -- and the firm getting bought, more sparing with big letters, prefers "CapTrust."

The merger, CAPTRUST’s sixth deal this year, adds two Florida offices, bringing CAPTRUST’s total to 34 offices nationwide, according to the press release. The new organization’s 138 advisors now oversee $243 billion for clients in all 50 states, CAPTRUST says.

CapTrust, which opened in Tampa, Fla. in 1998, provides wealth-management services to institutions, foundations and endowments, according to the press release.

Raleigh, N.C.-based CAPTRUST specializes in consulting on retirement plan and investment-advice services to retirement-plan fiduciaries and high-net-worth clients, the firm says. However, a growing portion of CAPTRUST’s revenues come from wealth management, which now accounts for 35% of the firm’s revenue, according to WealthManagement.com.

Adding CapTrust expands CAPTRUST’s reach for consulting business in the endowment and foundation markets, CAPTRUST CEO and co-founder J. Fielding Miller tells the web publication. And because of the companies’ shared history, “there weren’t any surprises on the culture side, which is critically important to getting the right kind of fit,” Miller tells WealthManagement.com.

By Alex Padalka
  • To read the WealthManagement.com article cited in this story, click here.